Brief description
The main purpose of this position is to embed and maintain risk management frameworks, policies and processes within the Corporate Services Department (CSD) at the South African Reserve Bank (SARB) to respond to risk exposures and leverage on opportunities.
Detailed description
The successful candidate will be responsible for the following key performance areas:
- Embed all of SARB risk management and compliance, frameworks, policies, processes, methodologies and systems.
- Analyse and understand the business environment within which CSD operates to undertake risk, compliance, business continuity, ethics, audit, incident and project risk management activities to support and guide the identification of risks and opportunities.
- Scan the external environment to identify emerging risks within the construction (real estate, construction and engineering) industry and ensure that the SARB is aware and takes the appropriate response.
- Prepare, liaise with relevant departments and facilitate risk assessment workshops, business impact analysis and business continuity planning sessions, using the SARB’s risk management policies, frameworks, methodologies, processes and systems.
- Identify changes in the applicable legislations/regulations and local/international standards relating to real estate, construction and engineering that may have impact on the objectives of CSD.
- Track progress on the implementation of all CSD risk response strategies and compile reports for different forums.
- Consolidate, maintain and report on the centralised risk incidents database for CSD.
- Create awareness within CSD for risk, compliance, business continuity, ethics, audit, incident and project risk management activities to support and guide the identification of risks and opportunities.
- Log, assess and analyse all risks timeously for the information technology (IT) application and control processes.
- Assist to plan, facilitate, execute, coordinate and report on the business continuity management (BCM) activities for CSD (including projects) using the BCM system, and support the Head of CSD in facilitating a response to any incident from a Joint Operations Centre and/or Crisis Preparedness Committee perspective.
Job requirements
To be considered for this position, candidates must be in possession of:
- a Bachelor’s degree (NQF 7) in Auditing or Risk Management, or an equivalent qualification; and
- five to eight years of experience in a relevant environment (e.g. auditing, risk management or IT).
The following would be an added advantage:
- being a Certified Risk Professional.
Additional requirements include:
- teamwork;
- managing ambiguity;
- managing complexity;
- drive for results;
- impact and influence;
- stakeholder and client focus;
- conceptual thinking;
- attention to detail;
- problem-solving and analysis;
- effective communication;
- initiative;
- project management; and
- facilitation skills.
About SARB
Primary mandate of the SARB
Section 224 of the Constitution of South Africa states the mandate of the SARB as follows:
The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.
The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice.
WHAT WE DO
Monetary Policy
The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inflation low and steady.
Financial Stability
The SARB has a mandate to protect and enhance financial stability. We identify and mitigate systemic risks that might disrupt the financial system.
Prudential Regulation
The Prudential Authority regulates financial institutions and market infrastructures to promote and enhance their safety and soundness, and support financial stability.
Financial Markets
Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.
Financial Surveillance
The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.
Payments and Settlements
The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern financial system.
Statistics
The SARB provides important economic and financial statistics that present an overview of the economic situation in South Africa.
Research
Research conducted by the SARB focuses on economics, financial stability, banking and emerging trends in finance. Our research supports policy decision-making.
Banknotes and Coin
The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.
